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There will be ‘probably’ four sittings of the financial adviser exam in 2022, according to the corporate regulator.
The continued decrease in adviser numbers this week was driven by IOOF, AMP Group, BMF Asset Management, and Diverger.
While statements of advice are a legal requirement, it creates learned helplessness and does not empower retiree clients and advisers need to help them understand how much to spend.
The financial advice profession will likely end up with a number of different business models including smaller boutique practices of partners with underlying advisers and a team of support staff, according to an adviser.
There is an ambivalence among investors to accept they are members of a failing investment scheme with the corporate regulator likening members of the Sterling Income Trust to passengers on the Titanic.
